Identify your Local Target Market


A common mistake in lead generation comes from too broad of a target market. To identify a focused niche, analyze your existing client base. Determine the demographics and psychographics of your most profitable clients. Then Identify other companies in your local market that fit the same profile. These are the companies on which to focus your efforts..
 

Everybody’s NOT your Prospect

What are the best strategies used by B2B sales and marketing professionals to identify and reach your target market? To achieve and maintain a pipeline full of qualified prospects will require more than showing up. No matter how broad your market may be, you will grow your business the more you understand about your existing client base. Strive for continuous improvement as you:
  • Define your Target Market and Plan how to Reach It.
  • Execute direct sales prospecting best practices. (appointment setting skills, networking, pro-active referrals, in person calls, sales rep knowledge and value creation, direct mail and/or email marketing)
  • Commit to ongoing review and management of your pipeline.
  • Communicate between sales & marketing roles, initiatives, goals, measure for success

Understand Marketing Activity Impact on sales (advertising, direct mail marketing, email marketing, sponsorships, trade shows, events, outbound telemarketing, website etc.)
 

Pre-search

Make pre-search your first step. “Presearch provides searchers with strategies to narrow their focus and develop specific questions or define information needs." (M. L. Pappas & E. L. Tepe, 1997). Management should provide all employees a clear definition of which criteria make a prospect “qualified” for your products or services.

Even if “everybody” is a prospect for your services, do you really want to market to your competitors? Do all of your prospects offer equal opportunity in terms of reward? Some customers, often the large and unprofitable ones, may be more trouble than they are worth. Others with a respected brand may give you instant credibility. 

Use BWise to help you analyze your current clients and profile your target market accurately and effectively.

Warning: Once you use BWise, you won’t want to target the local market without it.

 


"Prior to getting Business Wise, I couldn't see the value and fought it tooth and nail. Now, I have to say it's the best thing we've ever done for new business development. My folks love it."
Chet Walden
President
Walden Businesses
Why do so many salespeople agree that Business Wise data is better? What's unique about us and how it will impact your company's new business development results? More >
26 Tips for B2B Lead Generation. Find out why the 'X' is Missing! > More
 

 

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